I have BPLR linked floating rate of interest for my home loan
- In July 2010 Base Rate was 7.5%. In Apr 2011 it is 8.75 %. Change of 1.25 %.
- In July 2010 my BPLR linked floating rate of interest was 9.75 %. In
Apr 2011 it is 11.5%. Change of 1.75%.

As you can see there is a difference of 0.5 % in change, which
discriminates against existing customers whose rates are linked to
BPLR
Now that I have switched over to Base Rate my interest liability has increased
by further 0.5 %


ICICI Banks actions are against RBI guidelines and business ethics. It
is certainly discriminating against existing borrowers.
Summary of grouses::
- Discouraging the customer to switch from BPLR to Base rate e.g. through Misleading
communication (through media) to the customer that existing customers are not affected by introduction of Base rate
- Increasing BPLR first, then optionally the Base Rate
- On some occasions, no intimation through the media or personally about BPLR rate changes
- How can cost of funds defer in case of I-base and PLR linked customers


My expectation is that my current rate of interest be brought down by
1 % when switching from BPLR to Base Rate, because of the
discriminatory/ illegal practice I have been subjected to.

Complaint no. SR171700749 has been raised on 24th of March but there is no reply from the bank even after 2 months

Yours faithfully,
Satish Avhad
ICICI acc. no.: LBMUM00001418187